The UK inflation rate fell to its lowest level in eight months. The slowdown exceeded expectations, paving the way for the Bank of England to cut interest rates on Thursday. The UK Office for National Statistics announced on Wednesday that the consumer price index rose 3.2% year on year in November. The increase was lower than the 3.6% increase in the previous month. It was also lower than the 3.5% expected by economists, and the 3.4% forecast by the Bank of England. After the data was released, GBP/USD once fell 0.7% to 1.3332, the biggest decline in a month. Traders have increased their bets on interest rate cuts in the next few months, fully taking into account the expectation that interest rates will be cut twice before the end of April. Driven by a slowdown in food price growth, the UK inflation rate fell for the second month in a row. As an important indicator of the state of the domestic economy, the service sector inflation rate fell slightly to 4.4%, and the Bank of England expected 4.5%. These data provide the Bank of England with one last chance to observe inflationary pressure before tomorrow's decision. Economists and the market generally expect it to restart the cycle of interest rate cuts. Although the Monetary Policy Committee did not act in September and November, there have been signs of a downward trend in inflation and the economy since the last meeting.

The UK inflation rate fell to its lowest level in eight months. The slowdown exceeded expectations, paving the way for the Bank of England to cut interest rates on Thursday. The UK Office for National Statistics announced on Wednesday that the consumer price index rose 3.2% year on year in November. The increase was lower than the 3.6% increase in the previous month. It was also lower than the 3.5% expected by economists, and the 3.4% forecast by the Bank of England. After the data was released, GBP/USD once fell 0.7% to 1.3332, the biggest decline in a month. Traders have increased their bets on interest rate cuts in the next few months, fully taking into account the expectation that interest rates will be cut twice before the end of April. Driven by a slowdown in food price growth, the UK inflation rate fell for the second month in a row. As an important indicator of the state of the domestic economy, the service sector inflation rate fell slightly to 4.4%, and the Bank of England expected 4.5%. These data provide the Bank of England with one last chance to observe inflationary pressure before tomorrow's decision. Economists and the market generally expect it to restart the cycle of interest rate cuts. Although the Monetary Policy Committee did not act in September and November, there have been signs of a downward trend in inflation and the economy since the last meeting.